Economics
Trump Voices Confidence in Mnuchin and Fed, Easing Market Alarms
- Treasury secretary called ‘very talented guy, very smart’
- President sees ‘opportunity to buy’ as economy doing well
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Donald Trump expressed confidence in the Treasury secretary, Federal Reserve and U.S. economy on Tuesday, moving to calm financial markets further roiled after Bloomberg News reported that the president had discussed firing the central bank’s chairman over raising interest rates.
Trump, asked if he has confidence in Treasury Secretary Steven Mnuchin, said, “Yes I do, very talented guy, very smart person.” Asked about Fed Chairman Jerome Powell, Trump said the central bank is “raising interest rates too fast” but he has “confidence” that the Fed will “get it pretty soon.”